YTL: 1.77m shares in BV Hotel
Published on: Tuesday, March 20, 2018
Kuala Lumpur: YTL Power International Bhd's indirect wholly-owned unit, YTL Jawa Energy (YTLJE) BV, plans to acquire 1.77 million ordinary shares in hotel operator, Bel Air Den Haag Beheer BV, for €60.3 million (€1 = RM4.80). In a filing to Bursa Malaysia Monday, YTL Power said, the shares represented the entire issued and outstanding shares in the share capital of Bel Air."The amount will be paid in cash subject to such adjustments as set out in the sales and purchase agreement," it said.
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Upon completion of the acquisition, Bel Air would become a subsidiary of YTLJE and an indirect unit of YTL Power, it said."BV Hotel Bel Air Den Haag (BV Hotel), a wholly-owned unit of Bel Air, will consequently become an indirect subsidiary of YTLJE and YTL Power," it said.Stay up-to-date by following Daily Express’s Telegram channel.
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